Bank Failure

BLACKWELL, Okla. (AP) A Claremore-based bank has agreed to purchase the assets and assume the deposits of a Blackwell bank that was closed by federal regulators.

The Federal Deposit Insurance Corp. says it was appointed as receiver of Home National Bank after the Office of the Comptroller of the Currency closed the bank on Friday.

The FDIC says it reached an agreement with RCB Bank to purchase about $340.7 million in Home National's assets and assume its deposits. The bank's 15 branches in Oklahoma, Kansas and Arizona reopened Saturday as branches of RCB Bank.

Officials say Home National Bank had about $644.5 million in total assets and $560.7 million in total deposits on March 31.

A message left at Home National seeking comment Saturday wasn't immediately returned.